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Tue, 14 Jul 2026

Tue, 14 Jul 2026 Gas prices drive down US inflation - but will it last?

While the US inflation rate fell in June, concerns remain over price rises increasing again due to the renewed conflict in the Middle East.

* However, recent military strikes by the US on Iran have led to a surge in oil prices, causing concerns that inflation may rise again.
* Energy prices fell 5.7% last month, but food price inflation increased further, particularly in meat, poultry, fish and eggs.
* Core inflation, which excludes volatile food and energy prices, remained unchanged at 2.6%.
* Federal Reserve governor Christopher Waller warned that policymakers would need to consider raising interest rates if core inflation rises again.
* The Fed is expected to hold its next meeting in two weeks and may decide to keep interest rates steady or raise them due to concerns about inflation.
* US President Trump has called for the Fed to cut interest rates, but analysts believe the central bank will maintain a conservative outlook and not bow to pressure.